Cartier’s CEO Cyrille Vigneron Talks Sustainability And The Future Of Lab-Grown Diamonds

Words by Romana Hai

Cartier’s Chief Executive Cyrille Vigneron Talks Sustainability And The Future of Lab-Grown Diamonds
Cartier’s Chief Executive Cyrille Vigneron Talks Sustainability And The Future of Lab-Grown Diamonds

Consumers are increasingly preferring to shop with brands that are making strong efforts toward reducing their carbon footprint. This is prompting luxury brands to rethink their supply chain and pursue initiatives that do not harm the ecological balance.

In a recent interview with Business of Fashion, Cartier’s chief executive Cyrille Vigneron sat down to discuss the company’s various sustainability efforts and the growing momentum for using lab-grown diamonds.

Vigneron noted that in the past, consumers assumed brands and retailers did the right thing and “that was enough” until they were proven otherwise. In today’s day and age, however, brands and retailers cannot just simply make claims about their sustainability initiatives, but they must also be transparent and share the details of their initiatives. “When it comes to the environment, you must express your intentions and show that you “walk the talk,” Vigneron said.

Similarly, when it comes to making social commitments focussed on human rights and gender equality, brands need to take a similar approach. The French luxury conglomerate, for one, is working to maintain that level of transparency with its Cartier Women’s Initiative, an annual international entrepreneurship program that aims to drive change by empowering women entrepreneurs. The initiative was founded in 2006 and is open to women-run and women-owned businesses from any country and sector that aim to have a strong and sustainable social and/or environmental impact.

Cartier also has an equal pay certification with PricewaterhouseCoopers and is taking steps toward ensuring transparency in its operations.

“In the past, we’d just make sure our processes were fine. The new thing is that everyone is becoming really committed but asking you to be clear and transparent. And those who aren’t will face more and more serious resistance from their customers. They want to be sure that you do the right thing,” said Vigneron.

In terms of improving the longevity of its designs, Cartier has done well for itself due to the durability and timelessness of its product offerings. Still, the company is yet to embrace lab-grown diamonds, which are far more environmentally friendly than natural diamonds.

Vigneron revealed that while lab-grown diamonds are not mined and are considered sustainable, the hesitation behind lab-grown diamonds for Cartier is the lack of history, something that is very appealing to its customers. This has prompted the company to enable its customers to trace the source of diamonds used in its products, which in turn makes them feel confident in their purchase. That is not to say that the company would not consider the use of lab-grown diamonds in the future.

“If at some point customers feel lab-grown diamonds are perfectly fine to have for, say, the melee diamonds (i.e., small stones for a pavé setting), then we’ll see if maybe we can make special collections. But separation will be imperative so there’s full transparency.”

Pursuing sustainability-focusses initiatives and ensuring transparency is seemingly paying off for the company.

For the nine months ending December 31, 2020, Cartier’s parent company Richemont reported its annual sales within its jewelry category, which comprises Cartier, Buccellati and Van Cleef & Arpels, have increased 14 percent.

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